Chartered Accountants

• Independent Scrutiny - We act as impartial watchdogs, examining a company's financial statements objectively to ensure their accuracy and fairness. This involves testing transactions, verifying account balances, and assessing internal controls.
• Compliance Check - We ensure adherence to relevant accounting standards and regulations, such as IFRS or UK GAAP, protecting investors and stakeholders from accounting errors.
• Enhanced Credibility - A successful audit by a chartered accountant instils confidence in a company's financial reporting, attracting investors and fostering stronger business relationships.
• Risk Management - An internal auditor will identify potential issues with internal controls and financial processes, allowing businesses to mitigate risks and prevent future problems.
• Beyond Numbers - Our modern, forward-thinking audits go beyond mere number-crunching. We provide valuable insights into operational efficiency, risk management practices, and corporate governance, contributing to overall business improvement.

• Personal Tax Optimisation - Our professional accountants navigate the complexities of personal income tax, helping individuals claim all their entitled allowances and reliefs, minimising their tax burden legally.
• Corporate Tax Strategy - They advise businesses on optimal tax structures, depreciation schedules, and tax-efficient transactions, saving money and maximising profitability.
• Compliance & Filing - They handle tax returns and filing efficiently, ensuring accuracy and avoiding penalties.
• Tax Dispute Resolution - In case of tax inquiries or disputes with HMRC, we represent clients using our expertise and experience. Disputes with HMRC are invariably resolved much more quickly when a chartered accountant mediates on behalf of their client.
• International Tax Planning - For businesses operating across borders, we navigate the intricate web of international tax regulations, optimising tax structures and minimising liabilities.

• Accurate Data Foundation - We maintain meticulous records, ensuring every transaction is documented and categorised correctly. This forms the bedrock for reliable financial reporting and decision-making.
• Financial Statement Preparation - We prepare annual end of year accounts, profit and loss statements, balance sheets and cash flow statements, providing a clear picture of a company's financial health.
• Internal Controls & Systems - We evaluate and design internal control systems to safeguard assets, prevent errors, and promote efficient financial management.
• Compliance & Reporting - We ensure adherence to relevant accounting standards and regulations, ensuring accurate and timely financial reporting to stakeholders.
• Technology Integration - We use (and provide, if required Xero training courses) accounting software to streamline bookkeeping processes, boost efficiency, and facilitate real-time financial insights.

• Performance Dashboard - We analyse your financial data to create insightful reports and dashboards, providing key performance indicators (KPIs) and trends that track business performance.
• Cost Control & Optimisation - We identify areas of cost inefficiencies and recommend cost-saving strategies, improving profitability and resource allocation.
• Budgeting & Forecasting - We assist in creating realistic budgets and forecasts, allowing businesses to plan for the future and make informed financial decisions.
• Investment Appraisal - we conduct financial analysis to assess the viability of potential investments, helping businesses make strategic decisions with confidence.
• Business Valuation - We can provide accurate valuations of businesses for mergers, acquisitions, or other purposes, ensuring fair transactions.

In addition to the above, we also offer the following services to our valued clients:

Business Advice and Consultation

Prescient Accounting technicians can provide strategic advice on various aspects of your business, including growth, risk management, and financial planning services. If the worst happens, and companies face insolvency, we provide invaluable support and guidance throughout the procedure.

Forensic Accounting

In cases of fraud or financial disputes, we investigate financial records and provide expert analysis.

Corporate finance and fundraising

We assist with mergers and acquisitions, raising capital, and all other financial transactions.

Estate planning and wealth management

We can advise on preserving and managing your personal wealth across generations.

Not-for-profit accounting and auditing

We have the skills and experience to handle the specific accounting needs of charities and other non-profit organisations.

• Chartered accountants must complete a rigorous academic program, pass demanding professional exams (most likely an ACA qualification) , and have relevant work experience to achieve 'chartered status.' They hold membership in at least one professional body, such as the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants of Scotland (ICAS), or the Chartered Institute of Management Accountants (CIMA).
• Other accountants may have a variety of qualifications, including vocational qualifications, AAT qualifications, or even no formal qualifications at all.

• Chartered accountants typically have three to five years of experience working in accounting and finance roles, often outside of public practice. That is, within industrial, commercial or financial services. Many chartered accountants work within a specific field or industry (including the public sector), allowing them to offer in-depth knowledge and personalised service.
• Other accountants may have less experience or experience in a narrower range of areas.

• Chartered accountants can offer a wide range of services, including auditing, taxation, financial planning, and business management consulting services.
• Other accountants generally offer a more limited range of services, such as basic bookkeeping.

• Chartered accountants are bound by a strict code of ethics and professional standards. They can be disciplined or even expelled from their professional body for misconduct. This includes following the Corporate Governance and Stewardship Codes as stipulated by the Financial Reporting Council (FRC).
• Other accountants are not always subject to the same level of regulation as they are not affiliated with any particular professional body.

• Chartered accountants typically charge higher fees than other accountants, reflecting their higher qualifications and experience.
• Other accountants (usually) charge lower fees, but you get less expertise and experience for your money, and the fee reflects the level of service.

• If you want a qualified and experienced professional to handle complex financial matters, such as audits or tax planning, alongside all of the other tasks, then a chartered accountant is the best choice.
• If you only need help with basic accounting tasks, and you are prepared to accept and pay for a limited service, then a standard accountancy firm might be right for you.

It all comes down to the quality of service you desire and expect, as well as the long-term results and benefits you want for your business.

Chartered accountants offer a wide range of services to businesses, including financial auditing, tax planning, and business strategy advice, ensuring comprehensive financial management and growth.

A chartered accountant can significantly aid in tax planning by identifying tax-saving opportunities and ensuring compliance with tax laws, thereby optimising your tax position.

The difference lies in the qualification and regulatory body; chartered accountants are members of a recognized professional body with stringent entry criteria, offering a higher level of expertise.

Choosing a chartered accountant for financial auditing guarantees a thorough examination of your financial records by a qualified professional, ensuring accuracy and compliance with relevant standards.

Chartered accountants assist with business growth strategies by providing insights on financial management, efficiency improvements, and strategic planning to drive profitability and expansion.

Small businesses benefit from hiring a chartered accountant through expert financial advice, tax planning, compliance assurance, and strategic growth planning, supporting overall financial health.